As we noted in our closing roundup, stocks ended near the lows of the day. But it didn’t look like that was going to happen until the final several minutes of the day.
It was, as multiple traders noted to us a horrible, high-volume close that portends big trouble for stocks.
At 1071, we’re now just a couple of points above the S&P’s flash crash low of around 1056.
The bailout from two weeks ago is over.
Everyone’s looking for the next action, perhaps some intervention from the Fed and the G20.